Uncharted 4 Trailer runs in-engine, in-game, in realtime on a single PS4 at 1080p60
#1

UPDATE:

This thread is old and is referring to the original reveal, not the PSX gameplay we had seen later, which was running at locked 30. There has been a lot of developments since and we don't know if ND will still hit 60 (ND doesn't seem to know either). Fingers crossed, but it is time to reconcile with the harsh reality of development!

We have multiple sources for this, so it seemed to warrant a dedicated thread.

They (Naughty Dog’s Studio Coordinator Rodney Reece and Lead FX Artist Keith Guerrette) confirmed to us that the Uncharted 4 trailer showcased during Sony’s E3 2014 press conference was a part of an actual level in game. Secondly, they also confirmed that the entire trailer was running in real time on the PlayStation 4 and it was all in-engine.

No, it is definitely real-time, (as my post yesterday might hint) I had one of their devs explicitly confirm to me yesterday that it is running in real time, on a single PS4 and not pre-recorded.

Beginning with Uncharted 4, all Naughty Dog games will feature completely in engine, real time, 3D cutscenes (if they even stay cutscenes anymore), a huge performance departure from what they used to ship.

This post has been corroborated by a dev at Ubisoft, Montreal (Thanks, Shinobi):

We've studied the video in a little more depth and have concluded that it's definitely running at native 1080p resolution (as opposed to being rendered at a very high resolution, then scaled down - a process known as super-sampling). Small clipping anomalies, a touch of specular aliasing on Nate's shirt as he sits up, along with some shadow aliasing on his forehead also suggest a real-time render. On the face of it, we're still looking at some pretty incredible anti-aliasing here for a real-time technique on a game running at 60fps, particularly when it comes to the perfect, artefact-free rendering of Nate's hair - but the combination of the low contrast setting, slow camera movement, motion blur and depth of field would work well generally in making aliasing much less of an issue.

All footage you see in the trailer was captured completely in engine. That’s Nathan Drake rendered in 1080p full glory using the power of our PS4 engine. All footage you see in the trailer was captured completely in engine. We’re targeting 60fps for Uncharted 4: A Thief’s End and as you can see the visual fidelity for our character models will reach new heights. In fact, thanks to the power of the PS4, right now Drake’s Uncharted 4 model is over double the polygons of Joel from The Last of Us PS3.

I doubted it for more than a second. I'm really excited to see their art direction so well-developed already for the new systems. The animation and sense of "scene" is among the best we've seen thus far. Considering how quickly their work advanced from Uncharted 1 to 2, I'm more enthusiastic for this gen than I expected after seeing this.

Honestly, I still can not process it...
This is beyond anything I have seen. God are Sony first party studios (and second) gifted :
The Order 1886, Drive Club, Infamous SS, Killzone SF and now THIS!
Imagine next years guys : A gameplay demo of Uncharted 4 and real time trailer for Cory Barlog's game and, possibly, whatever QD are working on..plus GT7!
My heart is not ready...